Accounting in the Cloud: New Challenges and New Opportunities
Cloud computing offers businesses of all kinds new opportunities to expand their reach and redefine their brands. At the end of 2017, IT experts predicted that by 2020, cloud computing will be the default for business data management, and overall, the growth of cloud services and cloud technology continues to far outstrip the growth of other kinds of information technology worldwide.
For accounting and other financial services professionals, cloud computing presents both new challenges and unprecedented opportunities to redefine the scope of services and forge new and expanded relationships with clients. Working with a qualified cloud services provider, finance professionals will find the solutions they need to securely and efficiently manage data from multiple clients.
The Wide World of Cloud Computing
Cloud computing, or taking a company’s IT resources “to the cloud” has revolutionized the management of data and information for businesses large and small in virtually all industries. Cloud services make data storage and a long list of other essential functions not only more accessible, but also more economical and scalable.
But while the cloud revolution offers new ways for companies to expand their reach and build their brands, it may also be helping to drive changes in the way businesses define themselves and the services they offer. And for those in accountancy and related financial services, those changes may create new opportunities for growth and customer engagement. In order to understand how cloud computing services are changing the ways in which companies do business, it’s important to take a look at what “the cloud” really is – and what it can offer businesses in terms of security, economy and accessibility.
Check out our blog next week to continue along with our mini series on ‘Accounting in the Cloud’!